20 NYCRR § 4-2.2
Net gains from the sale of real property
# (a)
Net gains (not less than zero) from the sales of real property located in New York are included in New York receipts. Net gains (not less than zero) from sales of real property located within and without New York State are included in everywhere receipts.
# (b)
For each sale of real property, the corporation must compute a gain or loss from the sale by subtracting its adjusted basis in the real property from the sale price of the real property. If the sale price exceeds the adjusted basis, the result is a gain. If the sale price is less than the adjusted basis, the result is a loss.
# (c)
To determine the amount of net gains from sales of real property to be included in the numerator and denominator of the BAF, the corporation first must subtract the sum of all losses computed under subdivision (b) of this section from the sum of all gains computed under subdivision (b). If the result is equal to or less than zero, no amount is included in New York receipts and everywhere receipts. If the total amount of net gains (not less than zero) from sales of real property located in New York exceeds the net gains (not less than zero) from sales of real property located within and without New York State, the amount included in New York receipts is limited to the amount included in everywhere receipts.
Source: official source document (DTF adopted rule text, December 2023 corporate reform)
In this part (40 sections)
- 4-1.1 · Definitions
- 4-1.2 · General rules for apportionment
- 4-1.3 · Lump sum payments
- 4-1.4 · Installment sales
- 4-1.5 · Apportionment on combined reports
- 4-1.6 · Power of the Commissioner of Taxation and Finance to adjust the…
- 4-1.7 · Federal changes
- 4-2.1 · Receipts and net gains from the sale of tangible personal…
- 4-2.2 · Net gains from the sale of real property
- 4-2.3 · Receipts from rents and royalties
- 4-2.4 · Net income from qualified financial instruments for…
- 4-2.5 · Interest income and net gains from loans
- 4-2.6 · Interest income and net gains from asset backed securities and…
- 4-2.7 · Interest income and net gains from corporate bonds
- 4-2.8 · Net interest income from reverse repurchase agreements and…
- 4-2.9 · Net interest income from Federal funds
- 4-2.10 · Net income from commodities
- 4-2.11 · Marked to market net gains
- 4-2.12 · Interest income, net gains, and other income from other…
- 4-2.13 · Brokerage commissions
- 4-2.14 · Receipts from credit cards and similar activities
- 4-2.15 · Receipts received by credit card processors
- 4-2.16 · Receipts from railroad, trucking and omnibus businesses
- 4-2.17 · Receipts from the sale of advertising
- 4-3.1 · Definitions
- 4-3.2 · General Principles
- 4-3.3 · Special rules for determining primary use location
- 4-3.4 · General rule for determining primary use location
- 4-3.5 · Reasonable approximation based on customer information
- 4-3.6 · Reasonable approximation based on general information
- 4-3.7 · Where received method
- 4-3.8 · Rules for intermediary transactions
- 4-3.9 · Preceding taxable year method
- 4-3.10 · Current taxable year method
- 4-3.11 · Examples
- 4-4.1 · Definitions
- 4-4.2 · General Principles
- 4-4.3 · Special rules for determining where the benefit is received
- 4-4.4 · General rule for determining where the benefit is received
- 4-4.5 · Reasonable approximation based on customer information